The correct answer is: A. Increasing term life assurance.
Mortgage redemption insurance (MRI) is a type of life insurance that is designed to pay off a mortgage in the event of the policyholder’s death. It is a type of term life insurance, which means that the policy has a fixed term and will expire after that time. However, unlike traditional term life insurance, MRI policies typically have an increasing death benefit, which means that the amount of money that will be paid out in the event of death will increase over time. This is because the mortgage balance will also increase over time, so the policy needs to be able to cover the full amount of the mortgage.
Decreasing term life insurance is a type of life insurance that has a decreasing death benefit. This means that the amount of money that will be paid out in the event of death will decrease over time. This type of policy is often used to cover debts that will be paid off over time, such as a mortgage.
Variable life insurance is a type of life insurance that combines the features of term life insurance and investment products. With variable life insurance, the policyholder can choose how to invest the money that is used to fund the policy. The investment returns can then affect the death benefit and the cash value of the policy.
Universal life insurance is a type of life insurance that combines the features of term life insurance, investment products, and cash value accumulation. With universal life insurance, the policyholder can choose how to invest the money that is used to fund the policy. The investment returns can then affect the death benefit, the cash value of the policy, and the amount of the premium that is due.